How many subsidiaries does LandBridge Co LLC file with the SEC?

9, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Texas). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is LandBridge Co LLC financially healthy?

LandBridge Co LLC scores 6 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the safe zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of LandBridge Co LLC?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are FMR LLC (adding), MORGAN STANLEY (trimming), CITADEL ADVISORS LLC (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

LandBridge Co LLC (LB)

NYSE · Common Stock · Oil Royalty Traders

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

9 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-02-26 — see the exhibit.

Which other public companies file entities in the same places:

Delaware7 Texas2

Subsidiaries of LandBridge Co LLC as disclosed in its SEC filing
Entity	Jurisdiction	Note
DBR Land Holdings LLC	Delaware
DBR Land LLC	Delaware
DBR Desert LLC	Delaware
DBR Reeves LLC	Delaware
DBR REIT LLC	Delaware
Delaware Basin Ranches Inc.	Texas
Pecos Renewables LLC	Delaware
Platform Water Services, LLC	Texas
DBR Operating LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 8

PASSReturn on assets positiveROA 2.2%
PASSOperating cash flow positiveOCF 126M
PASSReturn on assets improving0.5% → 2.2%
PASSCash flow exceeds earningsOCF 126M vs NI 30M
FAILLong-term debt ratio falling37.9% → 41.0% of assets
PASSCurrent ratio improving3.70 → 4.87
FAILNo share dilution73M → 77M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.11× → 0.15×

Altman Z-score

7.58safe

Bankruptcy-risk screen combining working capital, retained earnings, operating income, market value against liabilities, and asset turnover. Above 2.99 is the safe zone; below 1.81 is distress.

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2023	$72.9M	$63.2M	$50.3M	—	—
FY2024	$110.0M	$5.1M	$66.7M	—	73,370,073
FY2025	$199.1M	$30.1M	$122.0M	—	76,542,235

Ownership flow

10 institutions tracked — 5 added, 5 reduced. Index money added 45,583 shares while active managers cut 430,248.

Institutional holders of LandBridge Co LLC and their share-count change
Manager	Kind	Shares	Change	Value
MORGAN STANLEY	Active fund	731,836	−743,991	$58.0M
FMR LLC	Active fund	1,775,450	+440,622	$140.7M
CITADEL ADVISORS LLC	Hedge fund	120,860	−147,873	$9.6M
JPMORGAN CHASE & CO	Active fund	56,931	+56,926

Identity

CIK: 0001995807
FIGI: BBG01N59HNH6
SIC: 6792 · Oil Royalty Traders
Incorporated: DE
Headquarters: HOUSTON, TX

Ownership

Institutional: 97.1%
Institutions: 243
Insiders: 1.1%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Related companies

Companies filing in the same SEC industry group.

Digital Turbine, Inc.APPS InterDigital, Inc.IDCC ROYAL GOLD INCRGLD SSR MINING INC.SSRM American Assets Trust, Inc.AAT ACRES Commercial Realty Corp.ACR

Questions about LandBridge Co LLC

How many subsidiaries does LandBridge Co LLC file with the SEC?: 9, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Delaware, Texas). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is LandBridge Co LLC financially healthy?: LandBridge Co LLC scores 6 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the safe zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of LandBridge Co LLC?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are FMR LLC (adding), MORGAN STANLEY (trimming), CITADEL ADVISORS LLC (trimming). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.